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Strategic Marketing Plan - Bacardi-Martini Company

Extracts from this document...

Introduction

STRATEGIC MARKETING PLAN Bacardi-Martini Company Project Introduction Bacardi Breezer Light! Table of Content 1 Executive Summary 1 2 Current Market Situation 2 2.1 Background information on the company 2 2.2 Situation Analysis 4 2.3 Industry Analysis 7 2.4 Competitive analysis 8 3 Opportunity and Issue Analysis 11 3.1 SWOT analysis 11 3.2 SWOT Matrix for the Bacardi Breezer Light is as follows: 18 3.3 Summary of key issues likely to impact on the organization's achievement of its objectives 18 4 Marketing Objectives 21 4.1 New Product Description 21 4.2 Target Market 21 4.3 Positioning Statement 22 4.4 Marketing Goals 22 4.5 Financial Goals 22 5 Marketing Strategy/Program 23 5.1 Product 23 5.2 Place 25 5.3 Pricing 25 5.4 Promotion 26 5.5 Sell-in 26 6 Financial Projections 29 7 Implementation Controls 30 7.1 Defining the Product Introduction Process 30 7.2 Product Introduction Cycle 31 8 Sources 32 9 Exhibits 33 9.1 Marketing Strategy / Program 33 1 EXECUTIVE SUMMARY Bacardi is a dominant player in the European Ready to Drink (here after: 'RTD") market. The current market situation as well as macro economic developments and market research support the managements decision to target a new market segment: women aged 25-39. The market for RTD's has been growing rapidly in recent years. From our market analysis it appears that consumers of alcoholic drinks are predominantly of the male gender. But lifestyle changes and demographic developments have put young female customers on the map as well. This calls for a new product that fulfils the needs of this new group of consumers. From the SWOT -analysis it appears that a product that meets the needs of this health conscious, increasingly affluent and 'image wise' group will have a good chance to gain this market. We therefore launch a new product: the Bacardi Breezer Light. It consists of the same recipe as the regular Breezer, but with sugar substitutes so that it contains less calories. ...read more.

Middle

World Population Growth, 1750-2150 Source: United Nations, World Population Prospects, The 1998 Revision; and estimates by the Population Reference Bureau. 3.1.3.3 Change marketing approach: 'goodwill' support and association with socially de-sirable issues like responsibility and health. By changing the marketing approach: 'goodwill' support and association with socially desirable issues like responsibility and health you create the image that your product is alright and that it is not wrong or bad. The Breezer Light matches well with this image. 3.1.3.4 Marketing through 'environmental awareness ('green- issues') You could play on the awareness of people, namely that they would like to live in a clean and healthy environment without damage the nature and no pollution. If you market this idea on your production process you could win a new group of customers. 3.1.3.5 By globalisation the social and political environment will be changed Globalisation will have more impact on the business strategies, because there must be more controlled and monitored of the differences between all social and political environments. How should the differences between countries be handled, such as beliefs, needs, wants, culture, religion, etc. The world is more complex, but at some points it will grow together. 3.1.3.6 Economic growth will be increasing the market of parties, festivals If people have more purchasing power by an economic growth they will spend more money to visit parties or organise them, and visit special events more often. This means all those places where you also consume alcoholic drinks, like restaurants, bars, festivals, etc. 3.1.3.7 Growing number of also middle aged people prefer lifestyle of the young. The population in EU in the age range form 15 to 24 is decreased form 14,5% (1992) to 12,4% (2000). The category 25-39 there is increasing gradually. It is known that people grow older in a healthier way, being more aware of health risks. The Light variant of the Breezer should be attractive to this group of older people. ...read more.

Conclusion

Engineering will drive the project toward a workable and manufacturable design, weighing alternative approaches to meet the technical, time and financial constraints placed on it by the customer base. Marketing must continue to monitor the market for any changes in direction or competitive threats. Once the design has been approved, design verification must proceed quickly. A variety of analysis tools and techniques can be employed by Engineering to estimate the likelihood a design will meet specifications, but ultimately, prototypes will need to be built to prove system performance i.e. new fill and bottling machine and adaptations to the labelling line. During the prototype build phase, the rest of the organization must begin to prepare itself for the impact of the new product on their departments. Manufacturing must begin to examine the impact on projected production schedules, Marketing must begin to assemble the launch plan (Media mix in full action), including the obsolescence or cannibalization of existing products (existing Breezer line), Purchasing must locate and contract critical suppliers (i.e. Amcor bottling partner), Sales must develop sales forecasts. The new product introduction process is in full swing. As the new product moves into the manufacturing environment, many tasks are occurring simultaneously. Sales must be filling the pipeline with orders. This will need to be managed carefully depending on unit availability and the degree of secrecy to be maintained. Channel and internal introduction training programs must be in place. Marketing must be well into the media/roll-out plan using every available method to enforce the key messages and total product position. Brochures, ads, sales scripts, sales training and presentation and promotional materials have been developed, and production of these collateral pieces must be completed. Raw materials must be on order and matched to the sales and shipment forecast. 7.2 Product Introduction Cycle The product introduction cycle is a multi-discipline, parallel process requiring expert coordination across the entire organization Source: Article Channel Magazine, August 1995. "Taking the "Random Walk" Out of New Product Introductions" - David W. ...read more.

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